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EUROSTOXX 50 futures remain above the December lows. The contract has topped resistance at the 20-day EMA which intersects at 3857.60 and marks a key short-term hurdle. A clear breach of this level would suggest potential for a stronger recovery. Gains are considered corrective - for now. A resumption of weakness and a break of 3753.00, the Dec 20 low, would resume the recent downtrend. The key bull trigger is 4043.00, Dec 13 high. S&P E-Minis trend signals remain bearish and the contract is trading closer to its recent lows. Short-term gains are considered corrective with resistance at 3926.25, the 50-day EMA. A clear break of this hurdle is required to suggest potential for a stronger recovery. On the downside, a break lower would confirm a resumption of the downtrend and open 3778.45, a Fibonacci retracement.
Schatz block, suggest buyer.
ERH3 97.00/96.875/96.75p fly, bought for 3 in 5k